CFA Society Toronto and CFA Society Ottawa are proud to host the Local level of the CFA Institute Research Challenge for the eight year! The 2017-2018 competition will begin in October 2017.

The CFA Institute Research Challenge is an annual global equity research competition that provides university students with hands-on mentoring and intensive training in financial analysis. Students gain real-world experience as they assume the role of a research analyst and are tested on their ability to value a stock, write an initiation-of-coverage report, and present their recommendations. For more background information about the Research Challenge visit CFA Institute's link below.

CFA Institute’s website.

How it Works

CFA Society Toronto and CFA Society Ottawa are the hosts for the Local level of competition (for any Ontario based schools who wish to participate).

A faculty adviser acts as the link between CFA Society Toronto and CFA Society Ottawa (the local host) and the student team.  The faculty adviser assembles the team and guides them throughout the process.

Each team is assigned an industry mentor who helps them throughout the competition.

The written research reports are submitted to CFA Society Toronto and graded by local industry practitioners. The top four teams advance to the presentation round of the Local level.

A panel of investment professional judges listen and score to the top four teams’ 10-minute presentation which is followed by 10-minutes of questions.

The winning team of the Local level advances to the Regionals competition.

Levels of Competition

Local level:

The competition season begins in October.  In Late-October teams must be assembled and the Subject Company will be announced and a mentor assigned.  Written reports are submitted to CFA Society Toronto in Mid-January.  The top four written reports will advance to the Local level of Competition for the presentation round which occurs in Mid-February.  The winner of the Local level is based on 50% presentation and 50% written report.

Regional level:

The winner from the Local level will advance to the Regional level, the Americas, which is hosted by CFA Institute. 

Global level:

The winner from each Regional competition will advance to the Global Final, where one team will emerge as Global champion of the CFA Institute Research Challenge.

Register Your Team

A faculty adviser from your university chooses and organizes a team (3-5 members) for the Local level. One team per university campus is permitted to compete. Students representing a particular campus must attend 80% of their classes at the indicated campus for the current term.

If you have questions about registering or finding a professor to sponsor your team, please email or call 416.366.5755 x225.

Application form will be active after 1 August 2017.

Local Competition

Competition Timeline

April 28, 2017

Global Final - Prague, Czech Republic

2017-2018 Timeline TBA

Current & Past Winners

2017 Research Challenge winners
2017 Local Winners: University of Waterloo

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